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Lions Gate Entertainment Corp (LGF) SEC Filing 10-K Annual report for the fiscal year ending Thursday, March 31, 2011

Lions Gate Entertainment Corp

CIK: 929351 Ticker: LGF
Exhibit 99.1
(LIONSGATE)
LIONSGATE REPORTS REVENUE OF $1.58 BILLION AND EBITDA OF $68.3
MILLION FOR FISCAL YEAR 2011;ADJUSTED EBITDA FOR THE FISCAL YEAR
IS $106.5 MILLION; NET LOSS IS $53.6 MILLION OR $(0.41) PER BASIC SHARE
COMPANY SWINGS TO POSITIVE FREE CASH FLOW
COMPANY REPORTS REVENUE OF $376.9 MILLION, EBITDA OF $58.8 MILLION, NET
INCOME OF $46.1 MILLION OR $0.34 PER BASIC SHARE AND FREE CASH FLOW OF
$167.6 MILLION IN THE FOURTH QUARTER OF FISCAL 2011
SANTA MONICA, CA, and VANCOUVER, BC, May 31, 2011 — Lionsgate (NYSE: LGF) today reported revenue of $1.58 billion, EBITDA of $68.3 million and adjusted EBITDA of $106.5 million for fiscal year 2011 (fiscal year ended March 31, 2011).
Revenue increased 6% compared to the prior year driven primarily by increases in theatrical, home entertainment and international film revenue. The home entertainment revenue included strong growth in digital and on demand revenue, which increased 69% from the prior year to $140 million.
The Company reported EBITDA of $68.3 million and adjusted EBITDA of $106.5 million for the fiscal year compared to EBITDA of $62.3 million and adjusted EBITDA of $128.4 million in the prior year. EBITDA gains primarily reflected significantly reduced theatrical marketing costs and higher margin revenue from digital media platforms. Adjusted EBITDA decreased because of the inclusion of an adjustment for non-risk prints and advertising (P&A).
Net loss of $53.6 million in fiscal 2011 compared to net loss of $19.5 million in the prior year was primarily due to increased interest expenses, a $14.5 million non-cash loss on extinguishment of debt related to the July 20, 2010 deleveraging transaction and increased equity interest loss, mainly associated with Lionsgate’s interest in EPIX.
Basic net loss per common share for the fiscal year was $0.41 on 131.2 million weighted average common shares outstanding, compared to basic net loss per common share of $0.17 on 117.5 million weighted average common shares outstanding in the prior year.
“Strong performances from our television business and our filmed entertainment library contributed to financial results that exceeded our preliminary estimates,” said Lionsgate Co-Chairman and Chief Executive Officer Jon Feltheimer. “We were particularly pleased by near record international sales, reflecting the demand for content in the world marketplace, and rapid growth of high margin digital and on demand revenue. Our numbers going forward should reflect growing momentum in our film business from franchises like THE HUNGER GAMES, THE EXPENDABLES and WHAT TO EXPECT WHEN YOU’RE EXPECTING that we expect will have the capacity to generate more consistent year to year motion picture performance.”

 


The following information was filed by Lions Gate Entertainment Corp (LGF) on Tuesday, May 31, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: LGF
CIK: 929351
Form Type: 10-K Annual Report
Accession Number: 0000950123-11-055453
Submitted to the SEC: Tue May 31 2011 5:18:22 PM EST
Accepted by the SEC: Tue May 31 2011
Period: Thursday, March 31, 2011
Industry: Motion Picture And Video Tape Production

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